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14 June 2016

Venezuela and Aruba finalise agreement to re-open refinery

Caribbean News Now!

CARACAS, Venezuela -- Authorities from the governments of Aruba and Venezuela, and officials from Petróleos de Venezuela, SA (PDVSA) and CITGO Aruba, gathered in Caracas on Friday to witness the execution of a commercial agreement between CITGO Aruba and the Aruban government that will reopen a 209,000 B/D refinery located in San Nicolas, Aruba.

In attendance at the event were the president of Venezuela, Nicolás Maduro; the Venezuelan minister of energy and petroleum, Eulogio del Pino; the prime minister of Aruba, Mike Eman; the Aruban Minister of economy, communication, energy and environment, Mike de Meza; and the president and CEO of CITGO Petroleum Corporation, Nelson Martínez.

Following several months of negotiations, officials from the Aruban government and CITGO Aruba announced plans to reactivate operations, which have been idled since 2012, through a refining facilities 15-year lease agreement, with a 10-year extension option.